The cryptocurrency struck a new record high of $5,183.97 around 0820GMT according to financial data provider Bloomberg.
The Final Word: A murky regulatory environment hasn't slowed down bitcoin.
On the USA -based Bitfinex exchange, bitcoin rose to $5,228.3 up $403.5, or 8.36%, exceeding a previous high of $5,013.91 reached on September 2.
Bitcoin's October rally continued today, enabling the flagship cryptocurrency to finally burst through the $5,000 checkpoint for the first time since briefly touching that mark on September 2.
Bitcoin is now trading at $5,186 compared with $966 at the start of the year.
Bitcoin has an intraday high of $5280 and ended yesterday at $5226. On Wednesday, Russian President Vladimir Putin warned of the risks surrounding the cryptocurrency market.
Bitcoin tumbled below $4 000 last month after China's central bank stepped up regulations on digital currencies, banning initial coin offerings, a popular means of fundraising for startups. Majority of cryptocurrency transactions occur in the Bitcoin network.
But after dipping below US$3000 in mid-September, bitcoin has leapt in value by more than 75 per cent in four weeks. It also allowed for large trades in the currency to take place more frequency. Bitcoin began the year near $1000 and has been on a tear ever since.